Entrepreneurship
Entrepreneurs are leaders willing to take risk and exercise initiative. They look to take advantage of market opportunities often by innovating or improving existing products & services. Developed countries are moving from 'managerial' to 'entrepreneurial' economies. India, as an emerging economy, is ensuring that entrepreneurship is embraced as a career choice for the young. The ecosystem for Entrepreneurship commonly known as Start-Ups is at its brightest. While no specific education or training is required to start a business venture of your own, the odds of success increase exponentially when entrepreneurs have a solid education background. With the popularity of entrepreneurship rising, many universities/ institutes offer programs to groom budding entrepreneurs. These programs are available both at undergraduate (BBS, BBA) and post graduate levels (MBA). Most top business schools also provide courses for entrepreneurship. Entrepreneurs are job creators rather than job seekers. They create products and services. Other than the path of owning one's own business, participating in a family business or starting a partnered venture, entrepreneurs also take up roles in the field of business consulting, sales, research and development, not-for-profit management, and mid-level management. Trending Fields: E-Commerce, M-Commerce, EduTech, FinTech, Healthcare
2 careers in this cluster
Entrepreneurship involves designing of business idea followed by launching and running a new business. Typically, it begins as a small business, such as a startup company. The business can involve offering a product, process or service for sale. The owners of such a venture are referred as ‘entrepreneurs’. Given the pace of development in the country, positive political environment and the myriad of opportunities; draw of youth to entrepreneurship has become rather magnetic. Life of an entrepreneur is extremely challenging. One needs to be hard-working, persistent, networked, smart, creative, willing to take risks and extremely good at managing relations. There are no specific educational requirements for becoming an entrepreneur but strong educational background and work experience makes the probability of success slightly higher. While successful entrepreneurs are generally well trained & qualified in their field; specific education qualifications can vary.
Family Business is a company or enterprise owned by members of the same family. Usually, family businesses involve participation by multiple generations but these enterprises can also be started and owned by spouses, siblings or cousins etc. Members of the family hold important positions in the business and have all control over decision making, strategising and management responsibilities. Different family members may also participate as stockholders, advisors or board members. Some of the most renowned business ventures such as the Tata Group and Aditya Birla Group are family-owned businesses.